eBay and French luxury group LVMH (the owners of Louis Vuitton, Céline, Givenchy and Fendi amongst others) have finally settled a longstanding court battle over the sale of fake designer goods on the auction website.
Although they didn't discuss how much the settlement was, we're talking big bucks. A court in France had ordered eBay in 2008 to pay a €38.5 million fine, which was then appealed and reduced to €5.7 million in 2012.
The two giants have now agreed to work together to fight against the sale of counterfeit designer handbags and other goods on eBay.
In a join statement, Michael Jacobson, eBay's Senior Vice-President and General Counsel, and Pierre Godé, Vice-President of LVMH, issued a joint statement saying: "Thanks to our joint efforts, consumers will enjoy a safer digital environment globally".
For more ways to make sure you don't buy a fake designer handbag on eBay, read our guide.
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